Central Bank responds to sharp depreciation of national currency

YEREVAN, November 24. / ARKA /. In response to a sharp depreciation of the national currency, the dram, against the USD and euro Armenia’s Central Bank said in a statement today that the exchange rate ‘is in the stabilization zone.

The greenback’s value has grown today at the local forex market by 16.6 points from November 21 to 435 drams, the highest rate this year.

According to the Central Bank statement, the drop in dram’s value ‘is dictated by the latest developments  at  regional and international financial markets, promoting export competitiveness, economic growth, creating new steady jobs and increasing the purchasing power of remittances sent to Armenia from abroad.’

“After consulting with all the participants of the financial market the Central Bank estimates that the current exchange rate of the dram reflects in full the ongoing developments and is within  the zone of stabilization,” the statement says.

The regulator says also its reserves are fully sufficient to prevent any artificial fluctuations of the exchange rate and to ensure financial stability.

Armenia’s national currency began to lose its value in late October. To shore up the dram the Central Bank sold $ 60.7 million in the last three weeks. Overall, it has sold $203.38 million this year at the local forex market and bought $50.15 million.-0-

spot_img

POPULAR

Euro fell against the Armenian dram, while the dollar and ruble rose: Central Bank of Armenia

The average market exchange rate for the US dollar against the Armenian dram, formed on the Armenian foreign exchange market, increased by 0.28 points on November 5, 2026, compared to November 4, to 360.4 drams.

Freedom Broker Armenia Director Expects Pause in Central Bank Rate Hike, but Points to Conditions for Further Increases (EXCLUSIVE)

The Central Bank of Armenia's further decisions on the refinancing rate will depend on inflation dynamics and its structure, according to Freedom Broker Armenia Director Hovak Hovakimyan.

Pashinyan: Armenian citizens received 95 billion drams in income tax refunds in 2025, and 78.6 billion drams in 2026

In 2025, Armenian citizens received 95 billion drams (approximately $263 million) in income tax refunds on mortgage loans, and 78.6 billion drams since the beginning of 2026.

IDBank has issued perpetual coupon bonds for the first time

On November 2, 2026, IDBank will, for the first time, offer registered perpetual coupon bonds through a public offering on the following terms.

Armenia’s fiscal policy in 2027 will restrain aggregate demand: Central Bank Governor

Armenia's fiscal policy in 2027, if economic growth remains slightly above the long-term sustainable level, will have a certain restraining effect on aggregate demand, stated Central Bank Governor Martin Galstyan, presenting the regulator's conclusion on next year's draft state budget to parliament.

LATEST NEWS

spot_imgspot_imgspot_img